NatWest Markets
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Royal Bank of Scotland has moved its leveraged finance and high yield origination and structuring team out of its investment bank and into its Commercial and Private Banking division, where it will fall inside the ringfence when RBS implements the controversial UK bank segregation rules. -
Swiss foods group Nestlé issued a €500m no-grow bond on Wednesday, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.
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Swiss foods group Nestlé issued a €500m no-grow bond today, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.
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Cabot Credit Management, the UK debt purchasing firm, on Wednesday raised €310m of secured notes to support its buyout of peer company Hillesden Securities from Faccenda Investments.
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The Financial Stability Board made three changes to its list of global systemically important banks (G-SIBs) on Tuesday.
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FCE Bank, the UK-based European financing arm of Ford, picked its timing to perfection for its fourth bond issue of the year, on Monday.
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Worldpay, the UK payments processing company, on Thursday sold its first bond issue, a €500m deal — in what could be the busiest string of seven trading days since July, with four more deals roadshowing.
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Royal Bank of Scotland’s sale of Citizens, its US retail bank, helped to boost headline profits in the third quarter, but the UK lender posted high restructuring and litigation costs that are not expected to fall any time soon.
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Issuers and investors were baffled this week by Standard & Poor’s decision to remove equity credit from hybrid capital bonds issued by 14 corporate borrowers — a decision that almost comically summed up the often self-referential, circular and abstruse reasoning that has driven the asset class’s history.
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Covered bonds issued this week from banks in Italy and Portugal were a roaring success from the sellers’ point of view. But none could have been done without the European Central Bank’s help.
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The UK Debt Management Office built its largest ever order book for a syndicated bond on Tuesday, but bankers away from the deal felt it was the trade’s timing that was particularly impressive.
